Saudi Aramco is in the early stages of considering a potential bid for BP's lubricant business Castrol, according to a person with knowledge of the matter. BP has been exploring all options around its Castrol business,

Saudi Aramco is considering a potential offer for lubricant assets being sold by BP Plc, as the Middle Eastern company pushes for acquisitions that deepen its reach in oil consuming countries, according to people with knowledge of the matter.

Castrol lubricant business, which could be worth as much as ~$10B, Bloomberg reported Wednesday. Aramco (ARMCO) reportedly is studying whether to bid for part or all of the business, and could look to combine the Castrol assets with its Valvoline lubricants unit,

Saudi Arabia’s state-owned oil giant reported a $106.25 billion profit in 2024, down 12% from the prior year as the lower prices now squeeze the kingdom’s development plans.

Oil giant Saudi Aramco posted a drop in annual profits on Tuesday as lower prices and volumes hit the lynchpin of the kingdom's ambitious economic reform plans.The world's biggest crude exporter said profits were down more than 12 percent to $106.